Velocity Financial Inc reports results for the quarter ended in September - Earnings Summary

Velocity Financial

03/11/2023 24:00

* Velocity Financial Inc  VEL.N  reported quarterly adjusted
earnings of 37 cents​​ per share for the quarter ended in
September, higher than the same quarter last year, when the
company reported EPS of 29 cents.  The mean expectation of
five analysts for the quarter was for earnings of 35 cents per
share. Wall Street expected results to range from 35 cents to 36
cents per share.
    * Revenue rose 66.5% to $44.57 million from a year ago;
analysts
expected $37.30 million. 
    * Velocity Financial Inc's reported EPS for the quarter was
35
cents​.
    * The company reported quarterly net income of $11.9
million.
    * Velocity Financial Inc shares had risen by 1.6% this
quarter and
gained 19.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 4.8%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the consumer
lending
peer group is also "buy"

Wall Street's median 12-month price target for Velocity
Financial Inc is $14.00 
This summary was machine generated from LSEG data November 2 at
11:59 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      0.35           0.37           Beat
 Jun. 30 2023      0.33           0.38           Beat
 Mar. 31 2023      0.29           0.33           Beat
 Dec. 31 2022      0.29           0.27           Missed